Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Allogene Therapeutics (ALLO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Allogene Therapeutics is a member of our Medical group, which includes 932 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Allogene Therapeutics is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALLO's full-year earnings has moved 3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALLO has moved about 8.8% on a year-to-date basis. At the same time, Medical stocks have gained an average of 7.8%. This shows that Allogene Therapeutics is outperforming its peers so far this year.
Another stock in the Medical sector, AN2 Therapeutics, Inc. (ANTX), has outperformed the sector so far this year. The stock's year-to-date return is 15.8%.
In AN2 Therapeutics, Inc.'s case, the consensus EPS estimate for the current year increased 5.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allogene Therapeutics belongs to the Medical - Biomedical and Genetics industry, a group that includes 453 individual stocks and currently sits at #103 in the Zacks Industry Rank. On average, stocks in this group have gained 19.1% this year, meaning that ALLO is slightly underperforming its industry in terms of year-to-date returns. AN2 Therapeutics, Inc. is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Allogene Therapeutics and AN2 Therapeutics, Inc. as they attempt to continue their solid performance.
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Allogene Therapeutics, Inc. (ALLO): Free Stock Analysis Report AN2 Therapeutics, Inc. (ANTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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